Complete the following using the present value formula or financial calculator. (Do not round intermediate calculations. Round your final answer to the nearest cent.) Amount desired at end of period $ Length of time 20,000 20 years Rate Compounded 8 % Annually Period used 20 Periodic rate 8% PV of amount desired at end of period
Complete the following using the present value formula or financial calculator. (Do not round intermediate calculations. Round your final answer to the nearest cent.) Amount desired at end of period $ Length of time 20,000 20 years Rate Compounded 8 % Annually Period used 20 Periodic rate 8% PV of amount desired at end of period
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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Question
![Complete the following using the present value formula or financial calculator. (Do not round intermediate calculations. Round
your final answer to the nearest cent.)
Amount
desired at
end of period
$ 20,000 20 years
Length
of time
Rate
Compounded
8 % Annually
Period
used
20
Periodic
rate
8 %
PV of amount
desired at
end of period](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1b13a588-62b7-4d8d-b822-191baf15bc8b%2F04058437-c165-456e-8c2b-a560eeef9f9f%2F4289177_processed.png&w=3840&q=75)
Transcribed Image Text:Complete the following using the present value formula or financial calculator. (Do not round intermediate calculations. Round
your final answer to the nearest cent.)
Amount
desired at
end of period
$ 20,000 20 years
Length
of time
Rate
Compounded
8 % Annually
Period
used
20
Periodic
rate
8 %
PV of amount
desired at
end of period
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